Mechel, one of the leading Russian mining and steel groups, has announced its production and sales results for the fourth quarter and the full year of 2023.
Accordingly, in the fourth quarter of 2023, Mechel produced 863,000 mt of crude steel, 2.8 percent higher compared to the third quarter. Meanwhile, the company’s pig iron production in the fourth quarter last year increased by 5.7 percent quarter on quarter to 796,000 mt, both resulting from a comprehensive reconstruction of blast furnace No. 5 and the overhaul of blast furnace No. 4 at Chelyabinsk Metallurgical Plant. Meanwhile, the production of run-of-mine coal totaled 2.98 million mt, up 4.5 percent quarter on quarter. Meanwhile, in 2023, the company produced 3.49 million mt of crude steel, down by 1.9 percent year on year, while its pig iron production decreased 2.0 percent year on year to 3.16 million mt. The company’s production of run-of-mine coal in 2023 totaled 10.36 million mt, down 8.2 percent year on year.
In the fourth quarter of last year, Mechel’s coking coal concentrate sales decreased by 13.6 percent quarter on quarter to 865,000 mt, with sales to third parties decreasing by 30.5 percent quarter on quarter to 509,000 mt during the given period. In 2023, the company’s coking coal concentrate sales fell by 21.5 percent year on year to 3.12 million mt, with sales to third parties decreasing by 25.3 percent year on year to 1.87 million mt during the given period.
The company’s thermal coal sales totaled 569,000 mt in the fourth quarter, up 12.0 percent compared to the third quarter. Mechel’s thermal coal sales in 2023 totaled 2.32 million mt, down by 27.8 percent year on year.
In the fourth quarter of last year, the company’s shipments of iron ore concentrate rose by 121.4 percent quarter on quarter to 259,000 mt. The company’s shipments of iron ore concentrate in the full year decreased by 30.6 percent year on year to 1.03 million mt, due to a decrease in production at Korshunovsky Open Pit.
The company’s sales of coke went up by 7.7 percent quarter on quarter to 572,000 mt in the fourth quarter last year, while in 2023 Mechel’s sales of coke increased by 3.2 percent year on year to 2.22 million mt. Meanwhile, the company’s sales of ferrosilicon in the fourth quarter of the current year rose by 11.0 percent quarter on quarter to 18,000 mt.
In 2023, the company’s total sales of long steel products decreased by 6.8 percent year on year to 2.40 million mt and sales of flat steel products totaled 373,000 mt, down 8.6 percent year on year due to scheduled repair works at Chelyabinsk Metallurgical Plant’s rolling facilities.